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Marston Law |
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Recent Marston Law News: |
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Forthcoming Presentation March 22, 2010, Paris, France: Mr. Marston will present an analysis of US political developments in light of the Copenhagen climate conference in December of 2009. Further information is available at: http://inter-mines.com/gene/main.php?base=1023&id_details_groupe=6
EPA Issues Final Endangerment Finding December 7, 2009: The EPA has issued its Final Endangerment Finding, stating that the concentrations of the six “key” greenhouse gases found in the atmosphere, including carbon dioxide, are a threat to the health of both current and future generations. The above Finding is being challenged in the United States Court of Appeals for the District of Columbia sub nom. Coalition For Responsible Regulation, Inc., v. EPA, D. C. Cir. No. 09-1322 (initial petitions for review filed December 23, 2009). It is anticipated that the petitioners may challenge the scientific findings in the IPCC documents upon which the EPA's finding is based, including the allegations of data manipulation raised by the disclosure of emails and data from the University of East Anglia's Climate Research Unit. A book has now been published addressing the controversy surrounding the disclosure of the East Anglia CRU materials and explaining what they may mean for the underlying scientific findings. See Steven Mosher and Thomas W. Fuller, "Climategate: The CRUtape Letters" (2010). http://www.amazon.com/Climategate-Crutape-Letters-Steven-Mosher/dp/1450512437
EPA’s Final Mandatory Reporting Of Greenhouse Gases Rule September 22, 2009: The EPA has issued its final rule adopting mandatory reporting of carbon dioxide emissions produced by major sources in the United States. The proposed rule had been issued in March of 2009 and has now been finalized. · Final Mandatory Reporting of Greenhouse Gases Rule The EPA specifically addressed issues raised by companies using CO2 in enhanced oil recovery (EOR) operations. · See Volume 41 of EPA’s response to public comments. The Mandatory Reporting Rule is being challenged in multiple consolidated cases in the United States Court of Appeals for the District of Columbia sub nom. American Chemistry Council v. Environmental Protection Agency, D. C. Cir. No. 09-1325, et al. (Order consolidating cases issued January 8, 2010).
EPA’s Notice of Data Availability and Request for Comment for Geologic Sequestration Requirements August 31, 2009: The EPA’s notice of data availability was published on August 31, 2009, requesting public comment on new data and related issues in response to comments on the original proposal from the summer of 2008. The NODA provides additional information and data on allowed injection depths and presents a proposed alternative for further comment. Comments on the contents of this NODA must be received on or before October 15, 2009. The federal register version of the NODA is available at: · http://edocket.access.gpo.gov/2009/pdf/E9-20920.pdf Additional background is available from the EPA at: · http://www.epa.gov/ogwdw000/uic/wells_sequestration.html#regdevelopment
Waxman—Markey Clean Energy Bill passes in the House June 26, 2009: The House of Representatives passed the landmark American Clean Energy and Security Act, sponsored by Rep. Henry A. Waxman, Chairman of the House Energy and Commerce Committee, and Rep. Edward J. Markey, Chairman of the House Select Committee on Energy Independence and Global Warming. For more information and a link to the complete bill, please see the House of Representatives page.
Publication of European Union’s CCS Directive April 23, 2009: The European Union’s CCS Directive has been issued, as of April 23, 2009. Under the directive, the member states have two years to transpose it into binding national law. The Directive sets out the conditions under which geological sequestration will qualify as an emissions reduction that will be able to be monetized through the EU Emissions Trading System. See the CO2 Regulatory News from the EU page for more details. · Directive 2009/31/EC of the European Parliament and of the council of 23 April 2009
Wyoming adopts first CO2 unitization statute Wyoming has clarified the potential impact on property rights from last year’s bills referenced below. The new statues make it clear that the law preserves and protects preexisting mineral interests. In addition, HB 80 creates a unitization mechanism for the creation of CO2 storage units. HB 80 is believed to be the first and only such statute in the United States. Please see the CO2 State Initiatives page to link to the three 2009 House Bills.
Environmental Protection Agency Proposes First National Reporting on Greenhouse Gas Emissions March 10, 2009: The US Environmental Protection Agency has proposed the first comprehensive national system for reporting emissions of carbon dioxide and other greenhouse gases produced by major sources in the United States. Detailed information regarding the proposed rule can be found on at the following link: · Proposed Mandatory Greenhouse Gas Reporting Rule
Energy Law Journal - C02 Regulation November 11, 2008: Philip M. Marston and Patricia A. Moore have recently published an article which examines important issues with regards to carbon regulation. The article, From EOR to CCS: The Evolving Legal and Regulatory Framework for Carbon Capture and Storage, can be found in Volume 29, No 2 (2008) of the Energy Law Journal, located at the following link: · Energy Bar Association– Energy Law Journal
Climate Change Legislation in the House October 7, 2008: Representatives John Dingell and Richard Bouchard released a discussion draft of climate change legislation on October 7, 2008, stating that the draft "is the culmination of nearly two years of intensive work on climate change by the Committee and marks an important step in our ongoing efforts to address this increasingly serious problem".
The text of the discussion draft of the legislation and supporting documents are available from the Committee's website at: · http://energycommerce.house.gov/Climate_Change/index.shtml
Energy Bar Association: Climate Change and Emissions Committee Meeting On September 23, 2008, the EBA will be hosting a meeting to discuss “Carbon Capture and Storage: Can it be done, and how will it be regulated?” The meeting will take place from 12 pm—1:30 pm (E.T.) and can be attended in person or via teleconference. For details about registration and location, please see the EBA’s attached announcement.
Wall Street Banks Announce Formation of The Carbon Principles February 4, 2008: Citi, JPMorgan Chase and Morgan Stanley combined to promulgate the Carbon Principles, “a set of guidelines for advisors and lenders to power companies in the United States.” The group of banks collaborated with power companies and environmental groups in “a nine-month intensive effort to create an approach to evaluating and addressing carbon risks in the financing of electric power projects.” · February 4, 2008 Press Release
Bank of America Announcement on Carbon Costs Bank of America has announced that it will begin assessing the cost of carbon in its risk and underwriting processes in evaluating the business models of utility sector companies. They estimate that absent Federal legislation the cost of carbon will fall between $20-$40 per ton. · February 12, 2008 Speech by Ken Lewis, Chairman and Chief Executive Officer, Bank of America
Paris Europlace Forum, NY Mr. Marston moderated a panel of French experts on CO2 Emissions trading and weather risk management products and services at the 2007 New York Financial Form of Paris Europlace.
Link to Paris-Europlace program: http://www.paris-europlace.net/ny07/program.htm
Doing the deal— Paris CO2 Symposium Mr. Marston recently gave a presentation at the “2e Colloque International sur le Captage et Stockage Géologique du CO2” in Paris, speaking on standards for carbon sequestration in US Federal and State regulation.
Link to the Paris CO2 Symposium:
Link to powerpoint presentation: “Doing the deal”: standards for qualifying sequestration under US Federal and state regulation
The Limits to Liberalization Mr. Marston recently published a review of both Michel Guénaire’s Le génie français and Nicolas Sarkozy’s Témoignage.
Link to the article in the Energy Law Journal: |
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